Documents and information Chase will ask for
Chase will ask you for three categories of things before you can open a business account: proof of who you are, proof of what your business is, and basic information about how you plan to use the account.
For your personal identity, bring a government-issued photo ID — a driver's license, passport, or state ID card. Chase will also ask for your Social Security number or Individual Taxpayer Identification Number (ITIN). If you're opening the account in person at a branch, they'll scan your ID. If you're opening it online, you'll type in the number and Chase will verify it.
For your business identity, what you bring depends on what kind of business you have. If you're a sole proprietor (you own the business by yourself and haven't formed a separate legal entity), Chase will ask for your business name and the address where you operate. If your business is a partnership, corporation, or LLC, you'll need to show the formation documents — the papers that legally created that business. These are usually called Articles of Organization, Articles of Incorporation, or a Certificate of Formation, depending on your state and business type. Your state's Secretary of State office issued these when you registered your business.
Chase will also ask for an Employer Identification Number (EIN) if your business has one. An EIN is a nine-digit number the IRS assigns to businesses. Sole proprietors sometimes use their Social Security number instead, but many get an EIN anyway. If you don't have one yet, you can get one free from the IRS before you open the account, or Chase can sometimes help you explore during the account-opening process.
Key Takeaways
- Bring a government photo ID and your Social Security number or ITIN to prove who you are.
- Have your business formation documents ready if you're a partnership, corporation, or LLC — sole proprietors usually just need their business name and address.
- You'll need an Employer Identification Number (EIN) from the IRS, or you can explore for one during the account-opening process.
- Chase will ask what the account is for and how much money you expect to move through it each month.
- You can open most Chase business accounts online, by phone, or in person at a branch.
Information about how you'll use the account
Chase will ask you to describe what your business does and what you plan to use the account for. They're not trying to pry — they're required by federal law to understand the nature of your business and the expected flow of money. This helps them detect fraud and money laundering.
Be straightforward. Tell them what product or service you sell, roughly how many customers or clients you have, and whether you expect to receive payments in person, by check, by wire transfer, or through a payment processor like Square or PayPal. If you're just starting out, say that. Chase has accounts for new businesses.
They'll also ask how much money you expect to deposit each month. This doesn't lock you in — it's just a baseline so they know what "normal" looks like for your account. If your deposits are much larger than you said, Chase may flag the account for review, but that's not a problem if you can explain it.
The difference between opening in person and online
Chase lets you open a business account online, over the phone, or in person at a branch. Each route takes roughly the same amount of time — usually a few business days from start to finish — but they work differently.
Opening online is fastest if you have all your documents ready and your information is straightforward. You'll upload photos of your ID and business documents, type in your details, and Chase will verify everything electronically. You'll get a decision within a day or two, and your account opens without a branch visit.
Opening in person at a branch means a banker will review your documents on the spot and can answer questions about which account type fits your business. This is helpful if you're not sure whether you need a basic checking account, a merchant services account (if you take card payments), or something else. The banker can also help you explore for an EIN if you don't have one yet.
Opening by phone works similarly to opening online — you'll provide the same information and documents — but you'll do it with a Chase representative who can walk you through the process. This is a good middle ground if you want human help but don't want to visit a branch.
Account types and what each one costs
Chase offers several business checking accounts, and the one you need depends on your business size and how you plan to use it. The most common are the Chase Business Basic Checking, Chase Business Checking, and Chase Business Complete Checking.
Each account has a monthly fee, but Chase waives the fee if you keep a minimum balance or meet other requirements — usually a combination of things like direct deposits, a certain number of debit card transactions, or a minimum daily balance. The exact requirements and fees change, so ask Chase what the current terms are when you open the account.
If you take credit card or debit card payments from customers, you may also want to ask about Chase merchant services. That's a separate product, but it integrates with your business checking account so payments deposit directly.
What happens after you submit your information
Once you've provided all your documents and information, Chase will verify everything. They'll check that your ID is real, that your business formation documents are legitimate, and that your EIN matches your business name. This usually takes one to three business days.
If everything checks out, your account opens and you'll get your account number, routing number, and debit card in the mail. You can usually start using the account online or through the Chase mobile app before your debit card arrives.
If Chase has questions — for example, if your business documents don't match the name you provided, or if they need more information about what your business does — they'll contact you. Respond quickly, because accounts sometimes close automatically if Chase can't reach you.
If you don't have all your documents yet
If you're a sole proprietor and don't have an EIN, you can get one free from the IRS before you open the account. Go to irs.gov and search for "explore for an EIN." You can explore online and get your number when ready, or by mail if you prefer.
If you're a partnership, corporation, or LLC and haven't registered with your state yet, you'll need to do that first. Contact your state's Secretary of State office — they handle business registrations. Once you register, you'll get your formation documents. The process usually takes a few days to a few weeks depending on your state.
If you're waiting for documents, you can still call Chase and ask whether they can hold a spot for you or let you open the account once you have everything. Some branches will work with you on timing.
Frequently Asked Questions
Do I need a business license to open a Chase business account?
Not always. Chase requires proof that your business exists — formation documents for an LLC or corporation, or just a business name and address for a sole proprietor. Some cities and states require a business license, but Chase doesn't always ask for it. Ask Chase what they need for your specific business type.
Can I open a business account if I'm a sole proprietor using my own name?
Yes. If you operate under your own name and haven't formed an LLC or corporation, you're a sole proprietor. Bring your ID, Social Security number, and tell Chase your business name and address. You don't need formation documents.
What if I don't have an EIN yet?
You can get one free from the IRS at irs.gov before you open the account, or Chase can sometimes help you explore during the account-opening process. If you explore through Chase, it may take a few extra days for your account to fully set up while they wait for the IRS to issue your number.
How long does it take to open a Chase business account?
If you open online or in person with all your documents ready, the account usually opens within one to three business days. If Chase needs to verify documents or contact you with questions, it may take longer.
Can I open a business account if my business is brand new?
Yes. Chase has accounts for new businesses. You'll still need to show that your business exists — either formation documents or a business name and address — but you don't need to have been in business for any length of time.